Malaysian Ringgit Climbs to Highest Since January on Rate Bets

The ringgit rose as much as 0.5% to 4.6630 per dollar on Friday. — The ringgit rose as much as 0.5% to 4.6630 per dollar on Friday.
Photographer: Samsul Said/Bloomberg

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By Matthew Burgess and Khushi Malhotra

July 12, 2024 at 4:23 AM UTC

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Malaysia’s ringgit is set to notch its longest streak of gains in more than 17 months as traders bet the nation’s interest-rate gap with the US will narrow.

The ringgit rose as much as 0.5% to 4.6630 per dollar on Friday, set for a seventh day of gains, which would be its longest winning streak since January 2023. It is now at the highest since January this year.